4[i] Zett Company Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities Net Income ................". $7,000 Add (deduct) items to convert to cash basis Depreciation .......... 5,000 Loss on sale of fixed assets ...... 1,000 Gain on sale of investment .. (3,000) Decrease in inventory ........... 2,000 Increase in receivables ....... (5,000) Decrease in accounts payables......... (7.000) Net cash provided from operating activities D Cash flows from investing activities Sale of fixed assets ... 6,000 Sale of investments ..... 3,000 Purchase of fixed assets . (4.000) Net cash provided from investing activities 11,000 Cash flows from financing activities Sale of unissued common stock...................-. 1,000 Purchase of treasury stock .......... (11,500) Net cash used by financing activities... (10.500) Net Increase in cash...................."....".........;;..."..". 500 Supplemental dieclosure of fach Flow information 1. Sales on account, $70,000. 2. Purchases on account, $40,000. 3. Depreciation, $5,000. W W P MacBook